Description
Turn-Key 8-Unit Investment Opportunity in Westville. Exceptional opportunity to acquire a well-maintained, turn-key 8-unit multifamily property in a prime location in Westville. This attractive asset offers strong in-place cash flow with a current gross annual income of $132,394 and an impressive 8% cap rate, making it an ideal addition to any investor's portfolio. The property has been well cared for and presents beautifully, offering tenants a desirable living environment in a convenient location close to major highways, shopping, dining, and public transportation. With stable occupancy and solid existing income, this is a true plug-and-play investment. In addition to the strong current returns, the property offers significant value-add potential through future rent increases and operational efficiencies, including the opportunity to implement utility bill-backs such as water reimbursement to further enhance NOI and overall asset value. Whether you are a seasoned investor or looking to expand your multifamily portfolio, this is a rare chance to own a high-performing asset in a strong rental market with upside potential still remaining.
Details
| MLS # | NJGL2072446 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending-bright |
| Year | 1950 |
| Days On Site | 136 |
| Listing Provided By | RE/MAX ONE Realty | Michael Walton |
Features
| Basement | Y |
|---|---|
| Units | 8 |
| Zoning | R |
| Acreage | 0.19 |
Interior
| Cooling | None |
|---|---|
| Heating Yes / No | Yes |
| Heating | 90% Forced Air |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 20876 |
|---|
Area Information
| State | NJ |
|---|---|
| County | GLOUCESTER NJ |
| City | WESTVILLE |
| Zip Code | 08093 |
| Area | Westville Boro (20821) |
| School District | GATEWAY REGIONAL SCHOOLS |
| Listing VS Median (in 08093) | |
Price: $995,000 low | high Med: $250,000 On site: 136 low | high Med: 478 | |
Market Activity 08093
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Learn More About This Property
| State | NJ |
|---|---|
| County | GLOUCESTER NJ |
| City | WESTVILLE |
| Zip Code | 08093 |
| Area | Westville Boro (20821) |
| School District | GATEWAY REGIONAL SCHOOLS |
| Listing VS Median (in 08093) | |
Price: $995,000 low | high Med: $250,000 On site: 136 low | high Med: 478 | |
